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Weak Fundamental Momentum Drags IAMGOLD Corporation (IAG) Lower

IAMGOLD Corporation (NYSE:IAG) has a beta value of 1.24 and has seen 2.08 million shares traded in the recent trading session. The company, currently valued…



This article was originally published by The Marketing Sentinal

IAMGOLD Corporation (NYSE:IAG) has a beta value of 1.24 and has seen 2.08 million shares traded in the recent trading session. The company, currently valued at $980.19M, closed the recent trade at $2.15 per share which meant it lost -$0.03 on the day or -1.38% during that session. The IAG stock price is -79.07% off its 52-week high price of $3.85 and 8.84% above the 52-week low of $1.96. If we look at the company’s 10-day average daily trading volume, we find that it stood at 15.64 million shares traded. The 3-month trading volume is 8.94 million shares.

The consensus among analysts is that IAMGOLD Corporation (IAG) is an Underweight stock at the moment, with a recommendation rating of 3.00. 6 analysts rate the stock as a Sell, while 0 rate it as Overweight. 4 out of 12 have rated it as a Hold, with 1 advising it as a Buy. 1 have rated the stock as Underweight.

IAMGOLD Corporation (NYSE:IAG) trade information

Sporting -1.38% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Monday, 05/16/22 when the IAG stock price touched $2.15 or saw a rise of 6.52%. Year-to-date, IAMGOLD Corporation shares have moved -30.35%, while the 5-day performance has seen it change 4.31%. Over the past 30 days, the shares of IAMGOLD Corporation (NYSE:IAG) have changed -41.24%. Short interest in the company has seen 9.01 million shares shorted with days to cover at 1.3.

Wall Street analysts have a consensus price target for the stock at $2.43, which means that the shares’ value could jump 11.52% from the levels at last check today. The projected low price target is $1.95 while the price target rests at a high of $3.90. In that case, then, we find that the latest price level in today’s session is -81.4% off the targeted high while a plunge would see the stock lose 9.3% from the levels at last check today.

IAMGOLD Corporation (IAG) estimates and forecasts

Figures show that IAMGOLD Corporation shares have outperformed across the wider relevant industry. The company’s shares have lost -34.34% over the past 6 months, with this year growth rate of 33.33%, compared to 18.00% for the industry. Other than that, the company has, however, increased its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are 100.00% and 100.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 6.70%.

2 analysts offering their estimates for the company have set an average revenue estimate of $301.41 million for the current quarter. 2 have an estimated revenue figure of $320.57 million for the next quarter concluding in Sep 2022.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -44.50% over the past 5 years. Earnings growth for 2022 is a modest -762.90% while over the next 5 years, the company’s earnings are expected to increase by 3.98%.

IAG Dividends

IAMGOLD Corporation is expected to release its next earnings report between May 02 and May 06 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

IAMGOLD Corporation (NYSE:IAG)’s Major holders

Insiders own 0.31% of the company shares, while shares held by institutions stand at 66.89% with a share float percentage of 67.09%. Investors are also buoyed by the number of investors in a company, with IAMGOLD Corporation having a total of 247 institutions that hold shares in the company. The top two institutional holders are Van Eck Associates Corporation with over 46.99 million shares worth more than $163.51 million. As of Mar 30, 2022, Van Eck Associates Corporation held 9.81% of shares outstanding.

The other major institutional holder is Smith (Donald) & Company Inc., with the holding of over 39.96 million shares as of Mar 30, 2022. The firm’s total holdings are worth over $139.06 million and represent 8.34% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF. As of Dec 30, 2021, the former fund manager holds about 4.45% shares in the company for having 21.3 million shares of worth $66.65 million while later fund manager owns 20.26 million shares of worth $58.95 million as of Feb 27, 2022, which makes it owner of about 4.23% of company’s outstanding stock.


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